MOORPARK : Home Loans, Grants to Be Considered
Low-income homeowners in Moorpark may be eligible for grants and low-interest loans under a proposal to be considered by the Moorpark Redevelopment Agency tonight.
The program would offer grants of up to $5,000 and loans up to $10,000 for families of four with yearly incomes ranging from about $28,000 to $50,000. The money could be used to pay for everything from fixing a roof or painting the exterior walls to repairing interior plumbing, said Steven Hayes, economic development manager for the city.
“We still have to determine what the needs are and how many homes would qualify,” Hayes said.
In an informal survey of the city, Hayes said his staff identified about 1,000 homes in need of repairs, but a more detailed survey was required to determine the exact number of homes in disrepair.
State law mandates that 20% of the city’s redevelopment funds be spent on low-income homeowners. The city has set aside about $2 million for low-income housing projects, with about$1.5 million now earmarked for a development at Gisler Field. The remaining money will be used for the home rehabilitation program, Hayes said.
The Redevelopment Agency will discuss the issue at 7 p.m. at Moorpark City Hall, 799 Moorpark Ave.